Most (perhaps all-- not 100 certain) major studios still make prints of all theatrical releases (including those entirely shot digitally) for archival purposes. That's really what these deals are about. However, release prints are drying up fast-- I work in film distribution, and a lot of art theaters around the country are being denied requests for classic titles because such-and-such studio doesn't ship prints anymore. They tell them to screen a blu-ray instead.

Regardless, film (color and black and white) will be around for a long time, even if Kodak does totally collapse. However, prices will continue to go up...